MIAMI, Nov. 18, 2014 /PRNewswire/ -- Vivex Biomedical, Inc. ("Vivex"), a biomaterials manufacturer, distributor, and developer located in Marietta, Georgia, today announced that it has acquired certain assets and agreements of the University of Miami's Tissue Bank (UMTB). Established in 1970, UMTB is the oldest and one of the most respected tissue banks in the United States. UMTB is a provider of human tissue and cellular products, including bone allografts, biomaterials, and soft tissue products for the spine, orthopedics, sports medicine, dental, and wound care markets.
"The strategic alliance with UMTB and the acquisition of their proprietary technology will complement Vivex's existing portfolio and represents a key step in fulfilling our strategy of building a broad business in the regenerative biologics sector," said Tracy Anderson, CEO of Vivex. In this strategic alliance, Vivex will maintain and expand upon the existing manufacturing and distribution agreements while the University of Miami will continue to build on its strong history and donor relationships with local hospitals and donor organizations.
"The University of Miami's Tissue Bank has designed and manufactured tissue products that make a difference in people's lives. In Vivex, we have the right industry ally to carry on the tradition of commitment to serving patients and advancing science," said Joe Natoli, Senior Vice President for Business & Finance and Chief Financial Officer of the University of Miami.
"As a surgeon, I could not be happier about the ally we have chosen, and I believe with this alliance we will achieve new heights in the fields of tissue regeneration," said H. Thomas Temple, M.D., Director of the University of Miami's Tissue Bank, professor and vice chair of orthopedics at the Miller School of Medicine. "Furthermore, I am most pleased with Vivex management and the respect they have shown to the process of tissue donation and honoring the Gift of Life."
Vivex will continue existing tissue operations in Miami and has committed to expanding the resources available. "We are extremely excited to welcome the talented and dedicated employees of UMTB to the Vivex family and we look forward to adding more in the weeks and months to come," said Anderson.
Comments and questions for Vivex can be directed to Michael Rozmajzl, General Counsel, at (770) 575-5221. For University of Miami Miller School of Medicine inquiries, contact Lisa Worley at (305) 243-5184.
Vivex Biologics, Inc. is a privately held, Marietta, GA based company focused in biologics and cellular therapies that treat orthopaedic, spine, wound and soft tissue injuries. Vivex has proprietary technologies in the field of stem cells and implant surface modification. The marrow isolated adult multilineage inducible (MIAMI) cells and mimetic patterning technologies (MIME) will improve the healing environment for the patient and reduce the overall cost in the healthcare environment.
Founded in 1970 through a partnership with the U.S. Naval Hospital in Bethesda, MD, UMTB is the oldest tissue bank in the United States. In addition, it is the only tissue bank that has university ties to research as well as partnerships in donation. UMTB has been led by H. Thomas Temple, M.D., a world renowned orthopedic oncologist and surgeon at the University of Miami.
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SOURCE Vivex Biomedical, Inc.